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CNBC
Dec 13, 2012 4:00am EST
that for us into the wee hours of the morning. joining us for more on what this means for the market is paris annan from fidelities investment. we wake up to this news. it's significant. as you look into 2013 and you start to look at why european equities are going in general, how does thi change if at all your views? >> well, when we think about the outlook for on 2013, you could almost separate it into two outlooks. you have the outlook for the macro economy and the politics in the euro crisis and the outlook for making money in the european shares. with things likes the eu banking supervision and even the change in italian politics, what we're seeing more generally is that these events are having a more muted impact on markets more generally. so what we think is going to be the bigger factor will be actually what happens at the underlying company level in terms of driving markets. for that, we have a relatively lower output. >> and that's interesting. we have recession across the eurozone, maybe the growth outlook isn't great. but at the same time, people are growing more bullish
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